Media group Bloomberg has paid an undisclosed amount to acquire US-based regulatory intelligence software provider RegTek Solutions, enabling financial exchange operator Deutsche Börse to exit.
Spun off by financial technology consulting firm Risk Focus in 2017, RegTek provides software that helps ensure business comprehensively and accurately report financial trades and transactions.
The company’s platform will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB) product in addition to its trading and enterprise data management systems.
Deutsche Börse vehicle DB1 Ventures co-led RegTek’s $5m series A round with venture capital firm Illuminate Financial Management in September 2017.
Alejandro Perez, Bloomberg’s global head of post-trade solutions, said: “The combination of RegTek Solutions with Bloomberg RHUB allows us to substantially expand our regulatory reporting coverage, and offer quality and control tools to help our clients effectively meet the wide range of global reporting requirements.
“As regulations become more complex, buy and sell-side firms are looking for providers who can help them address requirements across various jurisdictions, with the necessary workflows and data structure that allows firms to maximise overall accuracy and completeness in their regulatory processes.”
